Rickmers Maritime Wound Up

Maritime Activity Reports, Inc.

August 29, 2017

Photo: Rickmers Trust Management Pte. Ltd

Photo: Rickmers Trust Management Pte. Ltd

Rickmers Trust Management, a trustee-manager of Rickmers Maritime, informed that the trust has been wound up. The units of the trust and its notes shall cease to exist, said its trustee-manager in a Singapore Exchange (SGX) filing. 

The trust has made final distributions to unsecured creditors, representing a recovery of about 12.1 per cent.
"There will be no further distributions or payments, cash or otherwise, to the unsecured creditors of the Trust, including the holders of the S$100 million 8.45 per cent. notes due 2017. The outstanding amount due on the Notes has been paid to the Notes Trustee, DB International Trust (Singapore) Pte Limited," said the statement.
This represents the final payment on the outstanding notes to the Notes holders and the Trust has been wound up as of 16 August 2017. The Notes Trustee will be making arrangements with Central Depository (CDP)  to credit the relevant distribution amount to each Note holder based on the records of CDP.
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